TB MC Qu$.11-148($Algo$)$ Fargo Company...

$\backslash$table$[[,$Dividends Declared$],[,$& Paid$],[$year $1,$$$29,000],[$year $2,$$$7,000],[$year $3,$$$38,000]]$

The amount of dividends paid to preferred and common shareholders in year $1$ is:

Multiple Choice

$$275$ preferred; $$28,725$ common.

$$5\mathrm{.}500$ preferred: $$23\mathrm{.}500$ common.

$$22,750$ preferred: $$6,250$ common.

$$14,500$ preferred: $$14,500$ common.

$$29,000$ preferred: $$0$ common$|$